Fatih Özatay, PhD
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Risks ahead and growth prospects
Per capita growth rate in the last six years will be 1.85 percent compared to the 1950-2007 average at 2.72 percent. A few years ahead will probably be challenging for…
Why are the higher education exam results tragic?
How do people who think that it is a big accomplishment to turn each and every plain plot of land into a construction zone not design a tuition system which will enable…
Confidence in the economy: increasing or declining?
Without confidence in the economy, people defer their investment decisions and wait for the fog to disperse even if there is access to loans and interest rate is at a…
To be on the safe side
If the CBT raises its policy rate, this would mean it wants to keep interest rates at higher levels for at least a few quarters. It is a decisive moment for the Central…
Does “many” melt into “nothing”?
The construction frenzy might enable high growth rates over a certain timeframe. But this performance will in no way be sustainable. Is it possible to close the income…
That is what independence is for
For the sake of the country it is critical to construct the monetary policy on an exclusively “technical” framework and avoid comments which in some cases press the…
Financial problems: temporary or permanent? (2)
The Central Bank of Turkey should increase its policy rate. The market rate already reached 9 percent. Last time I raised a question and left it to you to answer. Now…
Financial problems: temporary or permanent?
The FED will first cease additional injections, than initiate withdrawals, and increase federal bond rate. Question: What do you think about the current problems in the…
A challenging period concerning inflation
The CPI has not converged with the headline inflation unlike what is normally expected. Headline inflation has long ago lost its function as a “headline” indicator. The…
Growth: below the average in the next few years?
Uncertainty is the nemesis of the confidence in an economy. It is not realistic to expect a rapid economic recovery in this environment. Yesterday industrial output…
Overpraising (3)
In the 2003-2012 period, GDP of emerging market economies on average grew by 1.95 times, compared to Turkey’s 1.43. What a repulsive scene: a general out front. A few…
Obsession about interest rates: Good or bad?
If some people are obsessed with interest rates and if they hold important offices, it becomes difficult to design economic policy. You might sure want interest rates to…